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any rate/term re-fi available at 90% ltv without having to pay pmi...ficos are 720+

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November 04 - US
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Profile picture for VanKeef
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You might qualify for a Fannie Mae or Freddie Mac home affordablity program. Please check the following sites to see if you qualify:

http://loanlookup.fanniemae.com/loanlookup/

http://makinghomeaffordable.gov/refinance_eligibility.html
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November 04
Yes, however, we must factor in additional cost of about 1.75% - so interest rate today would be about 5.375% for 30yr as opposed to 5.125% with PMI. 
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November 04
Profile picture for smokey1999
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You can have lender paid MI, the rate will be higher.  It makes more sense to pay MI and when the LTV goes down after paying the mortgage for a few years, the MI payment can be canceled.
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November 04
Profile picture for Georgia Loans
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Yes and the rate will be higher. If you are going to keep the property for more than 4-5 years, take the lower rate and pay MI.  
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November 04
 

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